The move comes as Confidence Petroleum progresses towards its ambitious target of establishing 100 CNG stations across Bangalore.
Further, Confidence Petroleum's CNG retailing division in Bangalore has achieved a significant milestone, reaching a daily sales volume of 140,000 kilograms.
Confidence Petroleum India is a fully integrated LPG & CNG company. Its segments include LPG Cylinder Manufacturing and auto LPG and CNG dispensing stations.
On a consolidated basis, net profit of Confidence Petroleum India declined 1.96% to Rs 27.08 crore on 23.01% fall in net sales to Rs 554.29 crore in Q3 December 2023 over Q3 December 2022.